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Regulatory

APGE

Apogee Therapeutics, Inc. (NASDAQ:APGE), a clinical-stage biotech company, announced it will report interim results from its Phase 1 APG777 healthy volunteer trial for atopic dermatitis and other inflammatory diseases on March 5, 2024. The company will host a conference call and webcast at 7:00am ET to discuss the results. The webcast will be accessible on Apogee's Investor Relations page.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:02 pm

AAPL

Apple's stock price has declined following the imposition of an EU antitrust fine related to its music streaming practices.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 8:59 pm

AVDL

JAZZ

Avadel Pharmaceuticals (NASDAQ:AVDL) responded to a jury ruling in a patent suit by Jazz Pharmaceuticals (NASDAQ:JAZZ) regarding LUMRYZ, a narcolepsy treatment. The jury ruled in favor of Avadel for one patent and against it for another. Avadel plans to appeal the unfavorable decision but does not expect it to affect LUMRYZ's commercial launch. LUMRYZ, approved by the FDA for narcolepsy treatment, has shown significant improvements in patients and has been granted seven years of Orphan Drug Exclusivity.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 8:39 pm

XLE

OPEC+ extends its voluntary cut of 2.2 million barrels per day through Q2, with Russia announcing an additional cut of 471,000 barrels per day. This move aims to shore up oil prices amid weak global demand and uncertainty around China's reopening. The market has already priced in these events, with U.S. crude hovering around $80. The focus shifts to the EIA Weekly Petroleum Status Report, indicating a record U.S. production but low utilization rates, leading to a build-up in crude inventories. This dynamic is seen as bearish for crude prices but may stabilize as refinery maintenance concludes. Crude oil net long speculative positioning has increased, signaling a bullish outlook in the near term despite macroeconomic and geopolitical risks. Technical analysis suggests a bullish trend for crude, with significant resistance levels ahead. The Energy Select Sector SPDR Fund (XLE) indicates crude is relatively cheap compared to energy stocks within the index.

Portfolio Pulse from Kevin Green

March 04, 2024 | 8:18 pm

TSLA

Banks holding X debt have engaged in refinancing discussions with Elon Musk, according to a Bloomberg report. This development could indicate potential restructuring or financial adjustments related to Musk's ventures, directly involving Morgan Stanley (MS) and Tesla (TSLA).

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 7:54 pm

DWAC

The U.S. Supreme Court ruled to reinstate Donald Trump on the Colorado state ballot for the 2024 presidential election, overturning a previous decision based on the 14th Amendment's Insurrection clause. Trump hailed the decision as a victory for liberty and democracy, emphasizing that it's up to voters to decide election outcomes. He also discussed an upcoming Supreme Court case on presidential immunity related to actions taken during his presidency. Additionally, Trump criticized President Biden's border policies and opposed a bipartisan border security bill. Digital World Acquisition Corp (DWAC) shares rose 14% following the news.

Portfolio Pulse from Chris Katje

March 04, 2024 | 7:37 pm

SPR

The FAA's audit of Boeing and Spirit AeroSystems' 737 MAX production revealed multiple compliance failures in manufacturing quality control, process control, parts handling, storage, and product control. This raises concerns about the manufacturing standards and oversight of the 737 MAX aircraft.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 7:04 pm

BIVI

BTDR

FUFU

JOAN

Bitdeer Technologies Group's shares surged 10.2% after reporting positive Q4 financial results and successful testing of its Bitcoin mining chip, amidst a general rise in Bitcoin prices. Other stocks also saw significant movements, with BitFuFu Inc. leading with a 107% jump following its Nasdaq listing. The session also highlighted FDA approvals, strategic approaches, and financial results as key drivers for stock movements. Conversely, companies like BioVie Inc. and JOANN Inc. faced declines due to public offering pricing and bankruptcy reports, respectively.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 6:29 pm

ETH-USD

On Sunday, 10,910.86 Ether (ETH) worth $38.7 million was burned, permanently removing it from circulation. This follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -13.15% yesterday.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 6:00 pm

AGRX

DARE

EVFM

EWQ

PFE

TEVA

VGK

France has made history by becoming the first country to explicitly include abortion rights in its constitution, according to a report by the Washington Post. This landmark decision could have implications for companies involved in women's health and reproductive products.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:53 pm